Martinsburg daily gazette. [volume] (Martinsburg, W. Va.) 1887-1887, 1887-04-18
WEEKLY TRADE REVIEW.
THE STATE or COMMERCE AND IN
DUSTRY AS SPECIALLY REPORTED.

terstate Commerce Act-A Rather I'm
settled State OF AffaIrs-Plenty Money.
Real Estate Observation-Disclosures.
NEW York, April ls-R. g. Dunn &
Co.'S weekly review OF trade viii say:
When Carlyle said it would be found inn
possible TO get wise laws for the suffrage Of
sundry millions, mostly fools, Z he seems to
have had q provision OF the interstate
commerce act. The chief feature OF the
week in commerce and industry is the emf
barrassment resulting from this enactment
No ono yet knows what its effects will be,
but millions who favored it already see that
its workings do not help them. The com
mission has not yet suspended the operation
of the short haul clause for northern roads
generally, but one United States court has
held it not applicable to an Oregon road and
another has ordered q Texas road in the
hands of a receiver to disregard that provis-
ion, and no one can guess what changes in
rates may at any time be made by order Of
courts or the commission.
The general effect thus far is to largely in
crease cost of transportation and to impede
or arrest distant shipments. Western dis
tributing cities find that it threatened to
transfer much Of their trade to minor towns.
On the other hand, it helps some people.
Thus, manufacturers find near by markets
more within their control, aud domestic ore
producers find foreign iron ore practically
excluded from many points of large consump-
tion. Considering the embarrassment from
uncertainty as to freights, accounts of trade
are surprisingly satisfactory. At many points
It is true, merchants as yet think only Of the
general trade of the year thus far as decidedly
better than that of any previous year, at
others the present dizziness or stagnatio is
considered but temporary, and a most hope
full feeling prevails, but it is the almost uni
versal testimony that retail trada is unusually
large No embarrassment appears in collec-
hOns, except where real eStlte or mining
speculation locks up all available means, or
in some localities wnere bal roa Is still block
business. but in most cases Improvement is
reported.
The remarkable activity is clearly con-
nected with the exceedingly plentiful supply
OF money which is more abun liant where
some need was previously reported, while at
many points, as at Memphis, money was
never SO abundant before
Rates rise to 10 per cent, or to 10 only at
some far western points, or where specula-
locality. The increase in actual circulation
Of each kind of money from Jlly to April
|, has been 81 41S, 034 gold coin; $4 43O, O9s in
silver dollars, and S3,37o,45l in subsidiary
silver, total $2l ,21S, $50 in coin, SIS, OO1 $40
in gold certificates, $43 Sl4, 264 in silver GER
tificates, SIS, 900 933 in United States notes,
against decrease of $23,O79,26S in bank
notes; net increase $5S, 637 ,569 in paper cur
rency, total increase of SD, 1886, 155 in coin
and paper, or - per cent The stimula-
ting effect of such an a1lition is everywhere
felt. From Washinton news comes that the
treasury, realizing the risks of excessive is
sues, will now draw in silver certificates of
the larger denominations
Speculation in real estate is rampant in
Colorado, spreading to cities and towns
throughout the state, has caused much lock-
ing up of means in Minnesota, and other
western states; has advanced prices wonder
fully at Philadelphia and holds prices up,
though the fever has abated at Nashville
How far such demands will prevent the re-
turn of money usual at this season to COM
mercial centers is yet in doubt. But no fear
is felt of money going abroad March ex-
ports of products having been surprisingly
large S6,6JO,0OO more than last year in cot
ton; 50, SOC, 900 in breadstuffs, and only $780,
900 less in oil The prospect is that exports
may have exceeded imports in that month
against a heavy excess Of imports last year.
Recent large purchases of stocks in foreign
account are reported, but with somewhat sus-
picious ostentation, and foreign exchange
remains stronger than it would naturally be,
if money were coming this way to pay for
many securities
Prices did not change greatly last week,
though What 10 louvar and Corn "a ikfIa
higher, with oats, oil, pork, hogs and sugar
unchanged. Coffee has risen an eighth and
cotton sixteenth, though crop prospects
at the south are onenarallu annnnnfad faunr-